Raymond James Financial Inc. Grows Holdings in W.P. Carey Inc. $WPC

Key Points

• Raymond James Financial Inc. increased its holdings in W.P. Carey Inc. by 1.5%, owning approximately 0.27% of the company, valued at $36.96 million after purchasing an additional 8,482 shares.
• W.P. Carey Inc. reported $1.28 earnings per share for its latest quarter, exceeding analysts' expectations, with revenue increasing 10.5% year-over-year.
• The company announced a quarterly dividend increase to $0.90 from the previous $0.89, resulting in an annualized dividend of $3.60 and a yield of 5.4%.

Raymond James Financial Inc. raised its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,621 shares of the real estate investment trust's stock after purchasing an additional 8,482 shares during the period. Raymond James Financial Inc. owned about 0.27% of W.P. Carey worth $36,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in shares of W.P. Carey by 10.2% during the 1st quarter. American Century Companies Inc. now owns 72,070 shares of the real estate investment trust's stock valued at $4,548,000 after acquiring an additional 6,685 shares during the last quarter. Aberdeen Group plc boosted its holdings in W.P. Carey by 1.4% in the 1st quarter. Aberdeen Group plc now owns 125,957 shares of the real estate investment trust's stock worth $7,934,000 after acquiring an additional 1,728 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in W.P. Carey by 12.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,639 shares of the real estate investment trust's stock worth $419,000 after acquiring an additional 729 shares during the period. National Pension Service boosted its holdings in W.P. Carey by 74.6% in the 1st quarter. National Pension Service now owns 812 shares of the real estate investment trust's stock worth $51,000 after acquiring an additional 347 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of W.P. Carey by 31.9% during the 1st quarter. Russell Investments Group Ltd. now owns 110,157 shares of the real estate investment trust's stock valued at $6,950,000 after buying an additional 26,663 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Down 0.6%

WPC opened at $66.1190 on Friday. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $67.40. The business has a 50-day moving average of $63.90 and a 200-day moving average of $62.18. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $14.48 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 9.71 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The company had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. During the same period last year, the business earned $1.17 EPS. The business's quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.90 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.4%. W.P. Carey's dividend payout ratio is presently 236.84%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Evercore ISI increased their target price on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. UBS Group increased their target price on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research report on Monday, June 9th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada raised their price target on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $65.67.

W.P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.

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